SPC Financial Inc. Raises Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

SPC Financial Inc. increased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 36,912 shares of the financial services provider’s stock after acquiring an additional 1,693 shares during the quarter. SPC Financial Inc.’s holdings in JPMorgan Chase & Co. were worth $7,466,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Retirement Group LLC increased its holdings in JPMorgan Chase & Co. by 227.1% during the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after buying an additional 109 shares during the last quarter. Fairway Wealth LLC bought a new position in shares of JPMorgan Chase & Co. during the 2nd quarter valued at approximately $32,000. Richardson Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $34,000. Anfield Capital Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter worth approximately $34,000. Finally, Davidson Capital Management Inc. purchased a new position in JPMorgan Chase & Co. in the first quarter valued at approximately $37,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

JPM has been the subject of a number of recent research reports. Jefferies Financial Group raised their target price on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Oppenheimer upped their price objective on shares of JPMorgan Chase & Co. from $215.00 to $221.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Finally, Piper Sandler upped their price target on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus target price of $211.31.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $210.79 on Tuesday. The stock has a market cap of $605.32 billion, a price-to-earnings ratio of 11.76, a PEG ratio of 2.39 and a beta of 1.12. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. The business has a 50-day simple moving average of $211.48 and a 200 day simple moving average of $202.73. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, topping the consensus estimate of $4.19 by $1.93. The company had revenue of $50.80 billion during the quarter, compared to analyst estimates of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same quarter in the previous year, the firm earned $4.37 earnings per share. On average, research analysts forecast that JPMorgan Chase & Co. will post 16.72 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be issued a dividend of $1.25 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend is Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is currently 27.89%.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.